Pradeep K. Khosla, chancellor of UC San Diego, said the center will advance the region's reputation as an international, collaborative hub for stem cell research.

The center's clinical trials with patients will help leverage stem cell research being conducted by scientists from UC San Diego, Sanford-Burnham Medical Research Institute, Salk Institute for Biological Studies and The Scripps Research Institute, among others.

"Every day, scientists learn more about the regenerative powers of stem cells, which tantalize with their potential to treat, cure, even prevent, myriad afflictions, including cancer, Lou Gehrig's disease and spinal cord injury," Sanford said in a statement. "I believe we're on the cusp of turning years of hard-earned knowledge into actual treatments for real people in need. I want this gift to push that reality faster and farther."

The grant for the stem cell center is the second-largest donation received by the university in its 53-year history.

Sanford has donated more than $1 billion to causes, primarily health related. Many of his projects are in his native state of South Dakota, where the 77-year-old philanthropist lives.

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